HomeEconomyInvestopia kicks off by setting the tone for entire event
By Economy Middle East
March 2, 2023 3:55 pm

Investopia kicks off by setting the tone for entire event

Bin Touq highlighted UAE’s focus on doubling GDP growth
(Center) His Excellency Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of Investopia

Investopia launched its 2023 edition with over 2,000 participants from 50 countries and more than 100 nationalities, all gathered to explore global opportunities for investment under the theme of “Envisioning Opportunities in Times of Change.”

The opening session featured H.E. Abdulla Bin Touq AL Marri, UAE Minister of Economy, and Anthony Scaramucci, Founder and Managing Partner of SkyBridge Capital.

Bin Touq highlighted UAE’s focus on doubling GDP growth. He emphasized bringing things out of the box and envisioning changes to create opportunities.

Bin Touq described the UAE’s agile response to the pandemic, focusing on communication and fueling talent as the primary resource for the economy. He highlighted the 100% ownership program, which has led to 300,000 new businesses and 2.2 trillion AED worth of trade.

Read more: Investopia’s 2nd edition kicks off at a very important time globally

Anthony Scaramucci praised the UAE’s culture and sense of neutrality, making it a comfortable place for international investors to grow their businesses.

The conversation concluded with a discussion about the future of multilateral institutions, with Bin Touq emphasizing international collaboration’s importance in addressing global challenges.

Investopia’s pre-event launch of the “Venture Marketplace” highlighted a commitment to creating an investment community and marketplace for unique opportunities in new economies.

H.E. Khaldoon Al Mubarak, Managing Director & Group CEO of Mubadala, also delivered an inspiring speech during the Intervention session at Investopia 2023. He emphasized the importance of preparing for a rapidly changing world and the need for collective action to address global challenges.

Mubadala, a strategic investment company, invests in the world’s most promising and challenging sectors. Their investments have contributed to renewable energy, AI, and finance progress.

According to Al Mubarak, the UAE national rail network is expected to have an economic impact of AED 200 billion by 2050, contributing to net zero efforts while also connecting the UAE to neighboring countries with significant social and economic opportunities.

He emphasized the importance of collaboration in driving progress, a lesson reinforced during the pandemic, and said the UAE has invested in the energy transition to mitigate the risk of reliance on a single commodity to drive growth.

He said the upcoming COP 28 event next November in the UAE is dealing with an existential threat to all of us: Climate Change. “Therefore, it is crucial to act to ensure a sustainable future for our children and grandchildren,” Al Mubarak stressed.

He reminded that in a country that is only 52 years old, the government has prioritized health, learning, skills, and attracting global talent to its shores.

“By putting people first, the UAE has achieved remarkable success relatively quickly. Investopedia will continue to be a catalyst for ideas and a driver for action for all those who attend,” he concluded.

For more on Investopia, click here.